January 7, 2017

NIFTY weekend update

Intraday charts
- sell signal on break from box
- cover on close

Daily charts

- trend is up on daily charts
- NF at resistance zone
- today, markets close in red. AD was negative
- pattern formed was 'bearish piercing line'
- formation of higher high higher low still intact
- option writing support 8000 (why has this not increased to 8200?)

Weekly charts
- trend is down on weekly charts
- sustaining above 8300 will be bullish
- deep support 7900